GAMMA Investing LLC Boosts Holdings in Mercury Systems Inc $MRCY

GAMMA Investing LLC increased its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 25.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,322 shares of the technology company’s stock after buying an additional 264 shares during the quarter. GAMMA Investing LLC’s holdings in Mercury Systems were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRCY. Fifth Third Bancorp boosted its holdings in shares of Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after buying an additional 451 shares during the last quarter. Nkcfo LLC purchased a new position in shares of Mercury Systems in the first quarter worth approximately $72,000. US Bancorp DE boosted its holdings in shares of Mercury Systems by 43.0% in the first quarter. US Bancorp DE now owns 2,489 shares of the technology company’s stock worth $107,000 after buying an additional 749 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Mercury Systems in the second quarter worth approximately $213,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Mercury Systems by 143.2% in the first quarter. PNC Financial Services Group Inc. now owns 5,966 shares of the technology company’s stock worth $257,000 after buying an additional 3,513 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Price Performance

Mercury Systems stock opened at $83.50 on Friday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of -126.51, a PEG ratio of 3.43 and a beta of 0.82. The firm’s fifty day moving average is $67.30 and its 200 day moving average is $55.20. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 52-week low of $32.32 and a 52-week high of $85.26.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.26. The company had revenue of $273.11 million for the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. Mercury Systems’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Sell-side analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In related news, EVP David E. Farnsworth sold 7,572 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $488,091.12. Following the sale, the executive vice president owned 161,326 shares of the company’s stock, valued at $10,399,073.96. This represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stuart Kupinsky sold 1,220 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $78,641.20. Following the transaction, the executive vice president owned 70,297 shares in the company, valued at $4,531,344.62. This trade represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 848,980 shares of company stock valued at $55,529,247 over the last quarter. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a report on Wednesday, August 13th. UBS Group set a $88.00 price target on shares of Mercury Systems in a report on Thursday. Wall Street Zen raised shares of Mercury Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Canaccord Genuity Group began coverage on shares of Mercury Systems in a report on Thursday. They set a “buy” rating and a $88.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Mercury Systems presently has an average rating of “Moderate Buy” and a consensus target price of $70.67.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.